YNAB - I could be on to something here...

I am not normally one for budgeting for my personal finances. I, of course, understand the importance of spending less than you earn, but that's been about where its both started AND ended for my personal budgeting. Until now...

My thinking has always been that we should concentrate on increasing our income as this can be limitless - whereas reducing expenses is a zero sum game.

This is until I met the: You Need A Budget ('YNAB') tribe.

I've been reading the book and playing with their software and I have to say that I think I might be won over...

It's still early days with it but I can see how the increased focus on giving 'every dollar a job' and seeking to 'age your money' can have some profound long term impact.

I'm a big fan of 'frameworks' to help us think about things more clearly and to help keep us on track and I think that this could prove to be a useful one.

I'll dive into some of the principles in more detail in future posts.

Are you applying the YNAB principles to your life? Interested in your views and experience.